Forex News and Rumors – Afternoon Update

Fed to Release Bank Stress Test Results Next Thursday

The US Federal Reserve said it will wait until next Thursday to release the results of the stress tests administered to nineteen of the nation’s largest banks. The results were originally scheduled for release this Monday but several banks apparently disagree with the the original conclusions and have asked for more time to discuss the findings with regulators. More

US Manufacturing and Consumer Confidence Index Rises on New-Found Optimism

The Institute for Supply Management factory index rose to 40.1 from 36.3 in March while the Consumer Confidence index jumped nearly 8 points to to 65.1 – the largest single-month increase in more than two years. More

Canadian Dollar Gains on Speculation Recession is Waning

The Canadian dollar has gained 1.7 percent the past week to extend its winning streak to five straight weeks. More

LIBOR Rate Falls to 1.01%

The London Interbank Offered Rate (LIBOR) – the benchmark rate that financial companies charge each other for short-term loans – fell to within a single basis point of one percent today to 1.01 percent.This is the lowest LIBOR rate since last September and has not been lower than 1 percent since June 2003. More

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